Bharat on course to be third-largest economy by 2027: Goyal
Company News

Bharat on course to be third-largest economy by 2027: Goyal

Bharat is firmly on track to become the world’s third-largest economy by 2027 and a USD 30 trillion-plus economy by 2047, Union Commerce and Industry Minister Piyush Goyal said while addressing delegates at the World Hindu Economic Forum.

Outlining the Viksit Bharat growth model, Goyal said the country’s progress is anchored in civilisational values such as Vasudhaiva Kutumbakam, and strengthened through governance reforms, enterprise-led growth and innovation. He noted that the past decade has marked a decisive shift, with consistent reforms, political stability and transparent governance positioning Bharat as a global role model.

The Minister identified three pillars of growth. Public welfare initiatives across housing, sanitation, food security, healthcare, education and digital connectivity have enabled citizens, particularly youth, to participate more confidently in economic growth. Infrastructure expansion has accelerated across highways, airports, ports, railways and digital networks, with 99 per cent of Indian Railways now electrified, improving efficiency and sustainability. Innovation and enterprise reforms, including reduced compliance burden and improved ease of doing business, have supported entrepreneurship and job creation.

On global trade, Goyal said Bharat has adopted a balanced and confident approach to Free Trade Agreements, citing deals with the UAE, Australia and the EFTA bloc, alongside ongoing negotiations with developed economies. He added that measures such as marble imports from Oman would support domestic processing and boost Bharat’s marble industry, particularly in Rajasthan.

Goyal said Bharat is increasingly viewed as a trusted global partner, with its digital public infrastructure, including UPI, emerging as an international benchmark. He reiterated that unity, culture and collective responsibility would underpin the journey towards Viksit Bharat 2047.

Bharat is firmly on track to become the world’s third-largest economy by 2027 and a USD 30 trillion-plus economy by 2047, Union Commerce and Industry Minister Piyush Goyal said while addressing delegates at the World Hindu Economic Forum.Outlining the Viksit Bharat growth model, Goyal said the country’s progress is anchored in civilisational values such as Vasudhaiva Kutumbakam, and strengthened through governance reforms, enterprise-led growth and innovation. He noted that the past decade has marked a decisive shift, with consistent reforms, political stability and transparent governance positioning Bharat as a global role model.The Minister identified three pillars of growth. Public welfare initiatives across housing, sanitation, food security, healthcare, education and digital connectivity have enabled citizens, particularly youth, to participate more confidently in economic growth. Infrastructure expansion has accelerated across highways, airports, ports, railways and digital networks, with 99 per cent of Indian Railways now electrified, improving efficiency and sustainability. Innovation and enterprise reforms, including reduced compliance burden and improved ease of doing business, have supported entrepreneurship and job creation.On global trade, Goyal said Bharat has adopted a balanced and confident approach to Free Trade Agreements, citing deals with the UAE, Australia and the EFTA bloc, alongside ongoing negotiations with developed economies. He added that measures such as marble imports from Oman would support domestic processing and boost Bharat’s marble industry, particularly in Rajasthan.Goyal said Bharat is increasingly viewed as a trusted global partner, with its digital public infrastructure, including UPI, emerging as an international benchmark. He reiterated that unity, culture and collective responsibility would underpin the journey towards Viksit Bharat 2047.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code